Form 4 for HOVR New Horizon Aircraft Ltd.
Accepted 2025-02-06 00:00:00 ET · period of report 2024-01-12 · accession 0001474506-25-000040 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2025-02-06 | 2024-01-12 | HOVR | O'Neill Jason Michael | COO, Dir | A - Grant | — | +235.5K | 235.5K | New | — |
| DM | 2025-02-06 | 2024-01-12+ | HOVR | O'Neill Jason Michael | COO, Dir | A - Grant | $0.00 | +516.3K | 296.0K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Ordinary Shares without par value | 2024-01-12 | A | A | 235,522 | — | 235,522 | D | — | — | (F1) Received in connection with the exchange of shares of Robinson Aircraft Ltd. d/b/a Horizon Air ("Horizon") in connection with the January 12, 2024 amalgamation (the "Amalgamation") of Horizon and Pono Capital Three, Inc. to form New Horizon Aircraft Ltd. |
| 2 | Derivative | Employee stock option (right to buy) | 2024-01-12 | A | A | 146,252 | $0.00 | 146,252 | D | $0.68 · 2024-01-12 to 2027-08-02 | 146,252 Class A Ordinary Shares without par value | (F2) Converted from Canadian exercise price of C$0.91 using an exchange rate of C$1.3387 = US$1.00. (F3) Received in the Amalgamation in exchange for an existing options to acquire shares of Horizon for C$0.76 per share. The options were originally issued on August 2, 2022, with a three-year vesting period (33 1/3% vesting annually). |
| 3 | Derivative | Performance Stock Units | 2025-02-03 | A | A | 74,000 | $0.00 | 74,000 | D | — · — to 2028-12-15 | 74,000 Class A Ordinary Shares without par value | (F5) Each performance stock unit represents a contingent right to receive one Class A ordinary share, without par value (each, a "Class A Ordinary Share"). The performance stock units vest in full on the date the Company achieves 100% Total Shareholder Return, defined as the percentage change in the value of the Class A Ordinary Shares over a specified period, calculated as the quotient of (i) the difference between the current share price and the share price on February 3, 2025 (the "Award Date"), divided by (ii) the share price on the Award Date. |
| 4 | Derivative | Employee stock option (right to buy) | 2025-02-03 | A | A | 296,000 | $0.00 | 296,000 | D | $0.61 · — to 2035-02-03 | 296,000 Class A Ordinary Shares without par value | (F4) The option will become exercisable in three equal installments beginning on 02/03/2026. |